MAP is the route into sequestration (bankruptcy) for Scottish residents who have low income, do not own a property and have very little savings or other low assets. It was introduced in April 2015. If you’ve run out of debt solution options, and you have limited means, then MAP could offer a route into the sequestration process.

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If remortgaging is an option you wish to consider, we can refer you to our preferred mortgage broking partner to consider this further.

You should ensure that you would be able to afford the monthly repayments. There is no sense in converting your unsecured debt into a secured debt, only to find that you cannot maintain the payments. This could become extremely serious, as your home will now be at risk. You should also take into consideration that interest rates could easily rise.

Money Village is a trading style of Debt Management Associates Ltd, registered in England at 1st Floor, New Devonshire House, Devonshire Street, Keighley, BD21 2AU. Company number 3711687. Authorised and regulated by the Financial Conduct Authority.
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